Financial DifficultiesFinSocNCT07084389
A Financial Social Work Intervention for Families With Complex Financial Difficulties (FinSoc)
A study testing FinSoc in people with Financial Difficulties, run by University of Turku at 1 site in Finland.
Trial summary
As of 2022, about 12% of children in Finland lived in poverty. Many of these families face not only a lack of money but also stress, low confidence in managing finances, and limited access to financial guidance. Read more about this study
- Who is it for?
- Any age
- Conditions the study is for
- Financial Difficulties
- What is being tested?
- FinSoc
- Type of treatment
- Lifestyle or therapy programme
- Could I receive a placebo?
- No, everyone receives an active treatment
- How many people
- 136 participants
- Where
- 1 siteFinland
- Study dates
- 1 Jul 2025to 30 Oct 2026
- Phase
- Interventional
- Are there results?
- Not yet: the study is under way
Key requirements
Who can take part, as listed by the sponsor. Only the study team can confirm whether you are eligible, so take this list to your doctor.
- Ages Any age
- All sexes
- No healthy volunteers
- Child, Adult, Older adult
Who may be able to join
- Client status in child welfare services, family social work, adult social work, assessment of the need for services, health social work, and financial social work
- Within the past six months, the client has brought up one or more of the following challenges in managing their finances during their contact with social services: (1) Difficulties paying bills, housing-related expenses, or repaying debts on time, (2) Difficulties meeting the basic needs of family members (e.g. food, medication, clothing) (3) A perceived lack of sufficient knowledge, skills, or competence to manage financial matters (4) Feelings of anxiety or stress related to financial situation.
- There is at least one underage child in the family. In cases of shared custody, the child must reside in the household for an average of at least half of the time in each calendar month.
Who cannot join
- There is an ongoing crisis or life situation in the family that, in the assessment of the social worker, prevents commitment to the intervention process.
- There is an active criminal proceeding within the family.
- The parents do not speak Finnish (all project materials are in Finnish, and there are no resources available to provide translations into other languages).
Trial locations and contacts
1 site in 1 country. Contact the study team or a site near you to ask about taking part.
Katri Viitasalo senior lecturer, PhD contact
Finland1 site, 1 recruiting
- Recruiting
University of Turku
Turku
Tuula Kaitsaari senior researcher, PhD, +358 50 314 6114, tuanka@utu.fi
Katri Viitasalo senior researcher, PhD, katri.viitasalo@helsinki.fi
About this study
Official title: A Financial Social Work Intervention for Families With Complex Financial Difficulties - A Randomised Controlled Trial
As of 2022, about 12% of children in Finland lived in poverty. Many of these families face not only a lack of money but also stress, low confidence in managing finances, and limited access to financial guidance. This study aims to support these families by improving their financial skills and well-being through a practical and research-based program.
The intervention includes five sessions with a trained social service professional, focusing on budgeting, financial decision-making, emotions around money, and the role of money in relationships. The goal is to reduce financial anxiety, improve knowledge, and build confidence in managing finances. The sessions also aim to help families talk more openly about money and set realistic financial goals.
Read more
To test effectiveness, a randomized controlled trial (RCT) will be conducted. Families are randomly assigned to either the intervention group (receiving the FinSoc program) or a control group (receiving regular social work services and, after final measurements, a material package to promote financial capability).
At least 136 participants-families with at least one child under 18 and facing financial difficulties-will take part. Information will be collected at three time points: before the intervention, after it ends, and three months later. Outcomes include financial literacy, financial anxiety, economic self-efficacy, and health-related quality of life, measured with self-rating scales in questionnaires.
In addition to questionnaires, interviews will be conducted with a sample of families and social workers to explore their experiences-what worked, what could be improved, and how the sessions were received. This qualitative feedback will guide future development.
Formative evaluation involves feedback from families before and after each session, covering topic clarity, session usefulness, and experiences with the techniques. For fidelity assessment, social workers will report after each session on adherence to the planned approach and tool use.
The FinSoc program is offered through public and private social service providers. It was developed and is being implemented by an interdisciplinary team with expertise in financial social work, social policy, and mental health.
The study aims to improve families' everyday lives, inform social work practices, and contribute to knowledge on social and economic well-being.
- Conditions
- Financial Difficulties
- Being tested
- FinSoc
- Keywords
- financial difficulties, social work, poverty, financial literacy, economic self-efficacy, financial anxiety
What participants receive
What participants receive. In a randomised study each person is assigned to one group by chance.
FinSocBehavioural
Financial Social Work intervention (FinSoc) The FinSoc intervention is a structured financial social work program designed for families experiencing complex financial difficulties. It consists of five modules, each delivered in a one-on-one session with a trained social worker. The modules focus on key areas such as budgeting, emotional and relational aspects of money, financial decision making, building long-term financial capability. The intervention aims to reduce financial anxiety, improve financial literacy, strengthen economic self-efficacy, and support overall wellbeing. Motivational interviewing techniques and client-centred approaches are used throughout to encourage active participation and goal-setting.
| Study group | Role | What they receive |
|---|---|---|
| Experimental: FinSoc intervention | Experimental | FinSoc intervention FinSoc intervention is delivered to the Experimental group by their social worker or social work professional. Receives: Behavioral: FinSoc |
| FinSoc control group | No intervention | No Intervention: Control The control group will receive the usual social work services. After the third measurement point, they will receive a materials package. |
What is being measured
The primary outcome is the main question the study is designed to answer.
Financial Literacy Scale
Financial literacy is operationalised as an adapted OECD/INFE financial behaviour score. The score consists of six selected behaviour indicators: four Likert-based financial behaviour statements, one saving behaviour item, and one budgeting item. The four Likert-based items are dichotomised so that responses indicating "mostly true" or "completely true" are scored as 1 and other responses as 0. The saving item is scored as 1 if the respondent reports active saving behaviour according to OECD/INFE scoring principles. The budgeting item is scored as 1 if the respondent reports preparing a household or personal budget. The total score ranges from 0 to 6, with higher scores indicating more financially responsible behaviours.
Measured: Measured at three timepoints: 1) baseline pre-randomization, 2) within 2 week post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement
Secondary outcomes (3)
Economic Self-Efficacy
Economic self-efficacy is measured using the 10-item Scale of Economic Self-Efficacy. Items are rated from 1 to 5. The outcome is calculated as the item mean, ranging from 1 to 5, with higher scores indicating greater economic self-efficacy.
Measured: Measured at three timepoints: 1) baseline pre-randomization, 2) within 2 weeks post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement.
Financial Anxiety
Financial anxiety is assessed using a modified eight-item version of the Financial Anxiety Scale (FAS). Two items referring to university education and academic performance were omitted because they were not applicable to the study population. The outcome is calculated as the item mean, ranging from 1 to 4. The score is calculated when at least 7 of the 8 items have been completed.
Measured: Measured at three timepoints: 1) baseline pre randomization, 2) within 2 week post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement.
Health related quality of life
Health-related quality of life is measured using PROMIS Global Health v1.2. The instrument produces two profile scores: Global Physical Health and Global Mental Health. Both scores are converted to PROMIS T-scores according to PROMIS scoring instructions and will be analysed separately. Higher T-scores indicate better health-related quality of life.
Measured: Measured at three timepoints: 1) baseline pre-randomization, 2) within 2 week post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement
Timeline
From the start of the study to its completion; the mark is today. Estimated dates are the sponsor’s plan.
- First posted24 Jul 2025
- Study start1 Jul 2025
- Primary completion30 Oct 2026 (estimated)
- Study completion30 Oct 2026 (estimated)
Resources
- Official record on ClinicalTrials.govThe registry entry this page is built from, with its full change history.
- Publications (4)Papers the sponsor has linked to this study.
- Other trials for Financial DifficultiesStudies of the same condition, open and under way.
- What the trial phases meanHow a treatment moves from first tests in people to approval.
More details
For doctors and researchers: how the study is designed, who runs it, and its registry IDs.
Study design
- Study type
- Interventional
- Phase
- Phase N/A
- Primary purpose
- Supportive care
- Allocation
- Randomised
- Intervention model
- Parallel groups
- Masking
- None (open label)
- Enrolment
- 136 participants (estimated)
Sponsor and investigators
- Lead sponsor
- University of Turku
- Sponsor type
- University, hospital or other
- Collaborators
- University of Helsinki, University of Eastern Finland
- Responsible party
- Principal investigator, Anniina Kaittila, University of Turku
- Investigators
- Anniina Kaittila senior lecturer, PhD, Study director, University of Turku
IDs, dates and publications
- ClinicalTrials.gov ID
- NCT07084389
- Sponsor's protocol ID
- FinSoc
- Other IDs
- VN/10969/2024
- Acronym
- FinSoc
- Status last verified
- Aug 2025
- First submitted
- 16 Jul 2025
- Last updated
- 19 Aug 2026
- Results posted
- No
- Data monitoring committee
- No
- FDA-regulated drug
- No
- FDA-regulated device
- No
- Individual data sharing
- No: The data is sensitive and must not be shared outside of the research group.
Publications
OECD INEF. (2018). Organisation for Economic Co-Operation and Development. OECD/INFE Toolkit for Measuring Financial Literacy and Financial Inclusion. Available from: https://www.oecd.org/ financial/education/2018-INFE-FinLit-Measurement-Toolkit.pdf.
Hoge GL, Stylianou AM, Hetling A, Postmus JL. Developing and Validating the Scale of Economic Self-Efficacy. J Interpers Violence. 2020 Aug;35(15-16):3011-3033. doi: 10.1177/0886260517706761. Epub 2017 May 3.
PubMed 29294740Hays RD, Bjorner JB, Revicki DA, Spritzer KL, Cella D. Development of physical and mental health summary scores from the patient-reported outcomes measurement information system (PROMIS) global items. Qual Life Res. 2009 Sep;18(7):873-80. doi: 10.1007/s11136-009-9496-9. Epub 2009 Jun 19.
PubMed 19543809Kaittila A, Isoniemi H, Viitasalo K, Moisio M, Raijas A, Toikka E, Tuominen J, Hakovirta M. A Pilot Randomized Controlled Trial of Intervention for Social Work Clients with Children Facing Complex Financial Problems in Finland (FinSoc): A Study Protocol. J Evid Based Soc Work (2019). 2024 Jan 2;21(1):32-49. doi: 10.1080/26408066.2023.2257174. Epub 2023 Sep 15.
PubMed 37712670
Study at a glance
From the registry record, last updated by the sponsor on 19 Aug 2026. Recruitment status is as the sponsor reported it: confirm with the study team.
- Official title
- A Financial Social Work Intervention for Families With Complex Financial Difficulties - A Randomised Controlled Trial
- ClinicalTrials.gov ID
- NCT07084389
- Acronym / sponsor ID
- FinSoc / FinSoc
- Conditions
- Financial Difficulties
- Keywords
- financial difficulties, social work, poverty, financial literacy, economic self-efficacy, financial anxiety
- Study type
- Interventional
- Recruitment status
- Recruiting
- Enrolment
- 136 participants (estimated)
- Lead sponsor
- University of TurkuUniversity, hospital or other
- Collaborators
- University of Helsinki, University of Eastern Finland
- Study start
- 1 Jul 2025 (actual)
- Primary completion
- 30 Oct 2026 (estimated)
- Study completion
- 30 Oct 2026 (estimated)
- First posted
- 24 Jul 2025 (actual)
- Results
- Not posted in the source record
Clinical summary
The research question as the sponsor registered it. This describes what the study plans to test, not what it found.
As of 2022, about 12% of children in Finland lived in poverty. Many of these families face not only a lack of money but also stress, low confidence in managing finances, and limited access to financial guidance. This study aims to support these families by improving their financial skills and well-being through a practical and research-based program.
The intervention includes five sessions with a trained social service professional, focusing on budgeting, financial decision-making, emotions around money, and the role of money in relationships. The goal is to reduce financial anxiety, improve knowledge, and build confidence in managing finances. The sessions also aim to help families talk more openly about money and set realistic financial goals.
To test effectiveness, a randomized controlled trial (RCT) will be conducted. Families are randomly assigned to either the intervention group (receiving the FinSoc program) or a control group (receiving regular social work services and, after final measurements, a material package to promote financial capability).
At least 136 participants-families with at least one child under 18 and facing financial difficulties-will take part. Information will be collected at three time points: before the intervention, after it ends, and three months later. Outcomes include financial literacy, financial anxiety, economic self-efficacy, and health-related quality of life, measured with self-rating scales in questionnaires.
In addition to questionnaires, interviews will be conducted with a sample of families and social workers to explore their experiences-what worked, what could be improved, and how the sessions were received. This qualitative feedback will guide future development.
Formative evaluation involves feedback from families before and after each session, covering topic clarity, session usefulness, and experiences with the techniques. For fidelity assessment, social workers will report after each session on adherence to the planned approach and tool use.
The FinSoc program is offered through public and private social service providers. It was developed and is being implemented by an interdisciplinary team with expertise in financial social work, social policy, and mental health.
The study aims to improve families' everyday lives, inform social work practices, and contribute to knowledge on social and economic well-being.
Study design
- Primary purpose
- Supportive care
- Allocation
- Randomised
- Intervention model
- Parallel groups
- Masking
- None (open label)
- Number of arms
- 2
| Arm | Type | Receives |
|---|---|---|
| Experimental: FinSoc intervention | Experimental | Behavioral: FinSocFinSoc intervention FinSoc intervention is delivered to the Experimental group by their social worker or social work professional. |
| FinSoc control group | No intervention | –No Intervention: Control The control group will receive the usual social work services. After the third measurement point, they will receive a materials package. |
Who may qualify
- Sex
- All
- Healthy volunteers
- Not accepted
- Age groups
- Child, Adult, Older adult
Key inclusion criteria (3 listed)
- Client status in child welfare services, family social work, adult social work, assessment of the need for services, health social work, and financial social work
- Within the past six months, the client has brought up one or more of the following challenges in managing their finances during their contact with social services: (1) Difficulties paying bills, housing-related expenses, or repaying debts on time, (2) Difficulties meeting the basic needs of family members (e.g. food, medication, clothing) (3) A perceived lack of sufficient knowledge, skills, or competence to manage financial matters (4) Feelings of anxiety or stress related to financial situation.
- There is at least one underage child in the family. In cases of shared custody, the child must reside in the household for an average of at least half of the time in each calendar month.
Key exclusion criteria (3 listed)
- There is an ongoing crisis or life situation in the family that, in the assessment of the social worker, prevents commitment to the intervention process.
- There is an active criminal proceeding within the family.
- The parents do not speak Finnish (all project materials are in Finnish, and there are no resources available to provide translations into other languages).
Eligibility is decided by the study team after screening; this overview does not establish that a patient qualifies. Full inclusion and exclusion criteria.
Interventions
| Intervention | Type | Arms |
|---|---|---|
| FinSocFinancial Social Work intervention (FinSoc) The FinSoc intervention is a structured financial social work program designed for families experiencing complex financial difficulties. It consists of five modules, each delivered in a one-on-one session with a trained social worker. The modules focus on key areas such as budgeting, emotional and relational aspects of money, financial decision making, building long-term financial capability. The intervention aims to reduce financial anxiety, improve financial literacy, strengthen economic self-efficacy, and support overall wellbeing. Motivational interviewing techniques and client-centred approaches are used throughout to encourage active participation and goal-setting. | Behavioural | Experimental: FinSoc intervention |
Primary outcome
Financial Literacy Scale
Time frame: Measured at three timepoints: 1) baseline pre-randomization, 2) within 2 week post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement
Financial literacy is operationalised as an adapted OECD/INFE financial behaviour score. The score consists of six selected behaviour indicators: four Likert-based financial behaviour statements, one saving behaviour item, and one budgeting item. The four Likert-based items are dichotomised so that responses indicating "mostly true" or "completely true" are scored as 1 and other responses as 0. The saving item is scored as 1 if the respondent reports active saving behaviour according to OECD/INFE scoring principles. The budgeting item is scored as 1 if the respondent reports preparing a household or personal budget. The total score ranges from 0 to 6, with higher scores indicating more financially responsible behaviours.
3 secondary outcomes
Economic Self-Efficacy
Time frame: Measured at three timepoints: 1) baseline pre-randomization, 2) within 2 weeks post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement.
Financial Anxiety
Time frame: Measured at three timepoints: 1) baseline pre randomization, 2) within 2 week post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement.
Health related quality of life
Time frame: Measured at three timepoints: 1) baseline pre-randomization, 2) within 2 week post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement
Results and safety
This study is still under way. Results are not available in the source record yet.
Research links
- Official record on ClinicalTrials.govLast updated by the sponsor 19 Aug 2026.
- BackgroundOECD INEF. (2018). Organisation for Economic Co-Operation and Development. OECD/INFE Toolkit for Measuring Financial Literacy and Financial Inclusion. Available from: https://www.oecd.org/ financial/education/2018-INFE-FinLit-Measurement-Toolkit.pdf.
- Background: PubMed 29294740Hoge GL, Stylianou AM, Hetling A, Postmus JL. Developing and Validating the Scale of Economic Self-Efficacy. J Interpers Violence. 2020 Aug;35(15-16):3011-3033. doi: 10.1177/0886260517706761. Epub 2017 May 3.
- Background: PubMed 19543809Hays RD, Bjorner JB, Revicki DA, Spritzer KL, Cella D. Development of physical and mental health summary scores from the patient-reported outcomes measurement information system (PROMIS) global items. Qual Life Res. 2009 Sep;18(7):873-80. doi: 10.1007/s11136-009-9496-9. Epub 2009 Jun 19.
- Background: PubMed 37712670Kaittila A, Isoniemi H, Viitasalo K, Moisio M, Raijas A, Toikka E, Tuominen J, Hakovirta M. A Pilot Randomized Controlled Trial of Intervention for Social Work Clients with Children Facing Complex Financial Problems in Finland (FinSoc): A Study Protocol. J Evid Based Soc Work (2019). 2024 Jan 2;21(1):32-49. doi: 10.1080/26408066.2023.2257174. Epub 2023 Sep 15.
- Individual participant dataSharing planned: No. The data is sensitive and must not be shared outside of the research group.
Referral and contact
AzTrials does not enrol participants or take referrals. Contact the study team or a site listed below; they decide who can take part.
Katri Viitasalo senior lecturer, PhD contact
Anniina Kaittila senior lecturer, PhD study director
University of Turku
1 site in 1 country: see every site and its status.
Questions about this trial
What is this clinical trial studying?
A study testing FinSoc in people with Financial Difficulties, run by University of Turku at 1 site in Finland.
The full registered description is in the About this study section and the official record.
Who may be eligible to take part?
The sponsor lists 3 inclusion and 3 exclusion criteria. Eligibility is decided by the study team after screening, so read the full criteria and contact a listed site.
Is this clinical trial currently recruiting?
The record says: looking for participants now, as of the sponsor's last update on 19 Aug 2026. Status can change between updates, so confirm with the study contact before making plans.
Where is the study taking place?
The record lists 1 site in Finland. Whether a site is taking part right now should be confirmed with that site. See every site.
What are the possible benefits and risks?
They depend on the study and the treatment, and no study can promise a benefit. The study team explains the known risks during informed consent, before anyone joins; the record itself does not list them.
Are results available for this study?
This study is still under way. Results are not available in the source record yet.
How can a doctor refer a patient or contact the research team?
Contact Anniina Kaittila senior lecturer, PhD (+358445071983, sairai@utu.fi), or a site near the patient. AzTrials does not enrol participants or take referrals.
What does the primary outcome measure?
Financial Literacy Scale (time frame: Measured at three timepoints: 1) baseline pre-randomization, 2) within 2 week post-intervention for intervention group and at 3 months post-baseline for control group, 3) 3 months after previous measurement). It is what the study was designed to measure, not a finding.
Where can I read the original study information?
On the ClinicalTrials.gov record for NCT07084389, which also lists 4 linked publications.
Does a listing mean the treatment is approved or proven to work?
No. A listing means the study is registered. It does not show that the treatment is safe, works, or is approved by a regulator.
How often is this information updated?
AzTrials copies changed records from ClinicalTrials.gov every night and reloads the whole registry every week. The sponsor last updated this record on 19 Aug 2026.